Harmonic Inc. Stock Forecast
Harmonic Inc. stock price ended at $11.09 on Wednesday, after gaining 3.26%.
(Updated on May 01, 2024)
The Harmonic Inc. stock price gained 3.26% on the last trading day (Wednesday, 1st May 2024), rising from $10.74 to $11.09. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.55% from a day low at $10.60 to a day high of $11.40. The price has fallen in 5 of the last 10 days but is still up by 10.57% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 3 million shares were bought and sold for approximately $34.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -24.11% during the next 3 months and, with a 90% probability hold a price between $6.79 and $9.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HLIT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 20.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Harmonic Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.61. On a fall, the stock will find some support from the short-term average at $9.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Harmonic Inc. stock
Harmonic Inc. finds support from accumulated volume at $10.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.80 between high and low, or 7.55%. For the last week, the stock has had daily average volatility of 6.85%.
Our recommended stop-loss: $10.71 (-3.46%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (HLIT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Harmonic Inc. to open at $11.03, and during the day (based on 14 day Average True Range), to move between $10.49 and $11.69, which gives a possible trading interval of +/-$0.602 (+/-5.43%) up or down from last closing price. If Harmonic Inc. takes out the full calculated possible swing range there will be an estimated 10.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.22 (1.17%) than the support at $10.94 (1.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Harmonic Inc. stock A Buy?
Harmonic Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.917 Hold/Accumulate Unchanged
Predicted Opening Price for Harmonic Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $11.03 ( 0.541%) | $11.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HLIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.83 | 6.67 % | |
| R2 | 11.52 | 3.92 % | ||
| R1 | 11.34 | 2.21 % | ||
| Current price: | 11.09 | |||
| Support | S1 | 10.72 | -3.30 % | |
| S2 | 10.54 | -5.00 % | ||
| S3 | 10.23 | -7.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.67 | 23.26 % | |
| R2 | 13.14 | 18.49 % | ||
| R1 | 11.22 | 1.17 % | ||
| Current price | 11.09 | |||
| Support | S1 | 10.94 | -1.35% | |
| S2 | 10.74 | -3.16% | ||
| S3 | 9.20 | -17.04% |
FAQ
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